Kabeer Biswas, the last remaining cofounder and CEO of Reliance Retail-backed Dunzo, is reportedly in discussions with investors about stepping down, reports Economic Times. Citing sources familiar with the matter, the report says that this development follows a challenging 12-18 months for the once-prominent quick commerce pioneer. The potential exit comes during a period of heightened activity in the quick commerce sector, attracting significant investor interest.
“All options are being considered, including what happens to Biswas’ remaining 3.4% stake in the company,” said a person close to the situation. However, Reliance Retail has not yet approved the proposal and remains in discussions on the matter. Some investors, given Dunzo’s financial struggles and write-offs, are reportedly open to letting Biswas move on, but Reliance Retail’s decision will be pivotal, sources added.
If finalized, Biswas’ departure would mark a significant founder exit from an Indian startup that once epitomized the quick commerce boom.
All other cofounders of the platform have already departed. Ankur Agarwal, one of the cofounders, is currently launching Kuik, while Dalvir Suri was among the first to leave during Dunzo’s struggles in 2023. Mukund Jha has also exited to establish his own venture.
The quick commerce platform laid off 75% of its workforce last year. The app now has 50 employees in its core supply and marketplace teams. The job cuts were then part of the company’s broader effort to curb costs and create cash flow to address mounting liabilities, including overdue salaries to current and former employees and outstanding vendor payments.
